AMBEV (ABEV) Company Report

Ambev reported Q3 2025 EBITDA growth of 3% with 50 basis points of margin expansion and normalized EPS grew 8%, driven by 7% net revenue per hectoliter growth despite softer industry volumes in Brazil.
The Board of Directors approved a $1 billion share buyback program on October 29, 2025, for canceling shares, and a new BRL2.5 billion buyback program is starting after the previous one completed in June.
Year-to-date, the company's top line grew 4%, EBITDA was up over 7% with 120 basis points of margin expansion, and normalized EPS grew above 7%, supported by cost initiatives and disciplined management.
Industry softness in Brazil was attributed to colder weather (approximately 70% of the decline) and constrained consumer purchasing power, but Ambev's premium and super premium brands continued to grow volumes by more than 9%.

Oct 30, 2025, 3:30 PM

AMBEV S.A. Approves New Share Buyback Program

ABEV

Share Buyback

AMBEV S.A. has approved a share buyback program to repurchase up to 208,000,000 common shares.
The program's primary purpose is share cancellation to maximize shareholder value and will be in effect until April 29, 2027.
The company currently has 4,253,039,958 outstanding shares.
The estimated cost for the maximum repurchase is approximately R$ 2,500,000,000.00, based on the October 29, 2024 closing share price, representing about 15% of the Company's cash.
The acquisition will be recorded as a debit on the capital reserve from the September 30, 2025 balance sheet.

Oct 30, 2025, 10:18 AM

Ambev S.A. Reports Q3 2025 Results

ABEV

Earnings

Share Buyback

Demand Weakening

Ambev reported 1.2% organic net revenue growth and 2.9% organic Normalized EBITDA growth for Q3 2025, with Normalized EBITDA margin expanding 50 bps to 33.9%.
Consolidated volumes declined by 5.8% organically in Q3 2025, primarily due to soft industries in Brazil, Canada, and Latin America South.
Normalized Profit for Q3 2025 increased by 7.4% to R$ 3,843.1 million, while cash flow from operating activities decreased by 14.7% compared to Q3 2024.
The Board of Directors approved a R$ 2.5 billion share buyback program for up to 208,000,000 shares to be executed within the next 18 months.

Oct 30, 2025, 10:08 AM

Ambev Reports Q3 2025 Results, Announces Subsidiary Sale and New Share Buyback Program

ABEV

Earnings

Share Buyback

Dividends

Ambev reported net income of R$4,863,720 thousand and basic earnings per share of R$0.3041 for the third quarter of 2025, with nine-month net income reaching R$11,458,935 thousand.
The company completed the sale of 61.83% of its interest in SLU Beverages LTD. for US$115 million (R$612 million) on July 31, 2025, recognizing a gain of R$884 million related to the transaction.
A dividend of R$0.1283 per share was approved on July 30, 2025, and paid on October 6, 2025.
A new share buyback program was approved on October 29, 2025, authorizing the repurchase of up to 208,000,000 common shares until April 29, 2027.
The effective tax rate for Q3 2025 was 6.72%, influenced by the SLU disposal and a R$375 million impact from the partial reversal of a tax liability.

Oct 30, 2025, 10:04 AM

Earnings Transcripts

Quarterly earnings call transcripts for AMBEV.

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